SAP Rallies on Plans to Convert
Preferred Stock to Ordinary Shares

DUESSELDORF -- German software giant SAP AG's ordinary shares rallied more than 20% after the company said it plans to convert its widely traded preferred shares into ordinary shares.

The change needs the approval of shareholders, who will vote on the switch at a meeting on May 3. SAP said it expects shareholders will give the conversion the go-ahead, and the company will complete the switch in June.